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Stock Market Daily Updates: 22 July 2021

Policybazzar is planning to raise Rs 6,500 crore. PB Fintech, the parent company of Policybazaar in a regulatory filing approved a resolution to raise the said amount via a fresh issue of equity.

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Dear Trader…

FII-foreign institutional investors, foreign portfolio investors-FPIs, on Tuesday saw a net sold of Rs 2834.96 crore in the cash segment. A total of Rs 7111.66 crore was sold against a total purchase of Rs 4276.70 crore. DII-domestic institutional investors today saw a net purchase of Rs 873.14 crore in the cash segment. A total of Rs 4802.72 crore was sold against a total purchase of Rs 5675.86 crore.

There will be some reaction in auto industry stocks with a private report that India's automotive electronics market is expected to cross $18 billion by 2027 with a compound annual growth rate (CAGR) of 17 per cent, driven by rising income levels and increasing customer preference for in-vehicle digital experience.

Besides, Policybazzar is planning to raise Rs 6,500 crore. PB Fintech, the parent company of Policybazaar in a regulatory filing approved a resolution to raise the said amount via a fresh issue of equity. There will be lots of important earnings announcements too, to keep the markets in action.

Ø INDEX MOVEMENT - 22.07.2021

Ø Nifty Future closed @ 15637 as on 20.07.2021..!!

Ø Bank Nifty Future closed @ 34487 as on 20.07.2021..!!

Bank Nifty Future has resistance at 34575 – 34636 Point; above which other resistance levels are at 34676 – 34737 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 34404 – 34330 Point; below 34330 Point, other support levels are at 34272 – 34088 Point.

I am positive for the next bullish trend only above @ 34737 Point but be with the trend. Let the market decide further moves.

Ø Trading Idea for the derivative stocks….

Ø INFOSYS LTD @ Positive Trend @ Rs 1533 with Stoploss of Rs @ 1517 for the Target near @ Rs 1573 - 1580 in short term…..!!!

Ø GODREJ PROP. @ Positive Trend @ Rs 1527 with Stoploss of Rs @ 1508 for the Target near @ Rs 1577 – 1590 in short term…..!!!

Ø TECHM @ Positive Trend @ Rs 1044 with Stoploss of Rs @ 1027 for the Target near @ Rs 1073 – 1080 in short term…..!!!

Ø AURO PHARMA @ Positive Trend @ Rs 944 with Stoploss of Rs @ 937 for the Target near @ Rs 983 – 990 in short term…..!!!

Ø TCS LTD @ Negative Trend @ Rs 3244 with Stop loss of Rs @ 3260 for the Target near @ Rs 3188 – 3170 in short term...!!!

Ø LARSEN LTD @ Negative Trend @ Rs 1606 with Stop loss of Rs @ 1616 for the Target near @ Rs 1560 - 1544 in short term...!!!

Ø LUPIN LTD @ Negative Trend @ Rs 1190 with Stop loss of Rs @ 1197 for the Target near @ Rs 1147 - 1130 in short term...!!!

Ø M & M @ Negative Trend @ Rs 777 with Stop loss of Rs @ 797 for the Target near @ Rs 747 – 733 in short term...!!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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